Financial Accounting

1. (TCO A) Listed below are several information characteristics and accounting p

1. (TCO A) Listed below are several information characteristics and accounting principles and assumptions. Each of these items is assigned a number. Match the number of each with …

1. (TCO A) The variable portion of advertising costs is a: (Points : 6) Conversi

1. (TCO A) The variable portion of advertising costs is a: (Points : 6) Conversion YES... Period NO Conversion YES .... Period YES Conversion NO.... Period YES Conversion NO.... P…

1. (TCO B) Zeff Co. prepared the following reconciliation of its pretax financia

1. (TCO B) Zeff Co. prepared the following reconciliation of its pretax financial statement income to taxable income for the year ended December 31, Year 1, its first year of oper…

1. (TCO C) The following overhead data are for a department of a large company.

1.                  (TCO C) The following overhead data are for a department of a large company.                                                     Actual costs             Stati…

1. (TCO D) Warranty4U provides extended service contracts on electronic equipmen

1. (TCO D) Warranty4U provides extended service contracts on electronic equipment sold through major retailers. The standard contract is for three years. During the current year, …

1. (TCO E) For federal tax purposes, the gain from the sale of stocks and bonds

1. (TCO E) For federal tax purposes, the gain from the sale of stocks and bonds is classified as: (Points : 5)       active income.       portfolio income.       passive income.  …

1. (TCO E) Which of the following is not treated as a change in accounting princ

1. (TCO E) Which of the following is not treated as a change in accounting principle? (Points : 5) A change from completed-contract to percentage-of-completion A change from LIFO …

1. (TCO H) Ginger Corporation has two major business segments—Herbs and Spices.

1. (TCO H) Ginger Corporation has two major business segments—Herbs and Spices. Data concerning those segments for June appear below. Sales revenues, Herbs $475,000 Variable expen…

1. (TCOs 2 & 3) During the year, Zander is transferred by his employer from Seat

1. (TCOs 2 & 3) During the year, Zander is transferred by his employer from Seattle to San Diego. His moving expenses are not reimbursed and are as follows: Cost of moving hou…

1. (TCOs 2 & 3) During the year, Zander is transferred by his employer from Seat

1. (TCOs 2 & 3) During the year, Zander is transferred by his employer from Seattle to San Diego. His moving expenses are not reimbursed and are as follows: Cost of moving hou…

1. (TCOs 7, 8, and 9) Orlando and Katelyn were divorced. Their only marital prop

1. (TCOs 7, 8, and 9) Orlando and Katelyn were divorced. Their only marital property was a personal residence with a value of $250,000 and cost of $100,000. Under the terms of the…

1. (a) How much money will you have accumulated in your bank account if you put

1. (a) How much money will you have accumulated in your bank account if you put $3,000 in a CD today that earns 4% interest compounded annually for 10 years? (b) What if you could…

1. (a) What is IT governance? Describe four objectives of IT governance (b) Desc

1. (a) What is IT governance? Describe four objectives of IT governance (b) Describe the relationship between the risk assessment and control activities components of the COSO fra…

1. (a) What is IT governance? Describe four objectives of IT governance (b) Desc

1. (a) What is IT governance? Describe four objectives of IT governance (b) Describe the relationship between the risk assessment and control activities components of the COSO fra…

1. (a) What is IT governance? Describe four objectives of IT governance (b) Desc

1. (a) What is IT governance? Describe four objectives of IT governance (b) Describe the relationship between the risk assessment and control activities components of the COSO fra…

1. (a)$176,000 (b)$172,000 (c)$152,000 (d)$224,000 2. (a) $14,000 (b) $15,000 (c

1. (a)$176,000 (b)$172,000 (c)$152,000 (d)$224,000 2. (a) $14,000 (b) $15,000 (c) $18,000 (d) $24,000 Durphey Corporation has provided the following data concerning last month's o…

1. ) Cab Company manufactures two products, Product C and Product D. The company

1. ) Cab Company manufactures two products, Product C and Product D. The company estimated it would incur $120,100 in manufacturing overhead costs during the current period. Overh…

1. ) Calculate the cumulative translation adjustment (CTA) for this U.S. MNC tra

1. ) Calculate the cumulative translation adjustment (CTA) for this U.S. MNC translating the balance sheet and income statement of a French subsidiary, which keeps its books in eu…

1. ) Earned and Unearned Income (LO. 2) Partha owns a qualified annuity that cos

1. ) Earned and Unearned Income (LO. 2) Partha owns a qualified annuity that cost $52,000. Under the contract, when he reaches age 65, he will receive $500 per month until he dies…

1. ) Nesman Company, which has only one product, has provided the following data

1. ) Nesman Company, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 92 Units in beginning inventory 30…

1. **Suppose an MNC subsidiary buys 100 input units from its parent at a price o

1. **Suppose an MNC subsidiary buys 100 input units from its parent at a price of $4 each. It has $300 in additional production costs, and sells its 100 units of output for $8 to …

1. -Explain how trade/GDP (also called openness) is a measure of globalisation.

1. -Explain how trade/GDP (also called openness) is a measure of globalisation. -Are there other measures you could use? -What form of globalisation are you measuring? (5 marks) 2…

1. . In addition to the financial statements and the accompanying notes, corpora

1. . In addition to the financial statements and the accompanying notes, corporate annual reports normally include which of the following sections? a- Management Discussion and An…

1. 01/01/x1 WestCompany bought merchandise, on account from a vendor that cost$3

1.         01/01/x1 WestCompany bought merchandise, on account from a vendor that cost$3,000, terms 2/10, n /30. West company will pay within thediscount period, what is the journ…

1. 1- The following information has been provided by Lightning Energy Bars, Inc.

1.      1- The following information has been provided by Lightning Energy Bars, Inc. for the month of September, when they sold 100,000 units: Cost of goods sold $   600,000 Fixe…

1. 1. Budgets are the same regardless of the size of an organization or manageme

1.    1.    Budgets are the same regardless of the size of an organization or management%u2019s role in the budgeting process. 2.    2.Budgets can include financial or nonfinancia…

1. 1. In the current year, Orion Corporation (E & P of $2 million) distributes a

1.    1.      In the current year, Orion Corporation (E & P of $2 million) distributes all of its property in a complete liquidation. Allie, a shareholder, receives land havin…

1. 1. Lesmerises Corporation\'s most recent balance sheet and income statement a

1. 1. Lesmerises Corporation's most recent balance sheet and income statement appear below: Dividends on common stock during Year 2 totaled $40 thousand. Dividends on preferred st…

1. 1. Managerial accounting A. A. Focuses primarily on reporting to regulatory a

1.       1. Managerial accounting A.      A. Focuses primarily on reporting to regulatory agencies B.      B .Is governed by generally accepted accounting principles C.      C.I s…

1. 1. Which of the following is an example of direct labor cost for a table manu

1.   1. Which of the following is an example of direct labor cost for a table manufacturer? 2. Income statements for public companies, in accordance with FASB requirements, must r…

1. 100 pons Puget Sound Divers is a company that provides diving services such a

1. 100 pons Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May…

1. 1000 points Stubs-R-Us is a local event ticket broker. Last year, the company

1. 1000 points Stubs-R-Us is a local event ticket broker. Last year, the company sold 910,000 tickets with an average commission of $5. Because of the general economic climate, St…

1. 11-4 Reporting the Stockholders\' Equity Section of the Balance Sheet [LO2, L

1. 11-4 Reporting the Stockholders' Equity Section of the Balance Sheet [LO2, LO3, LO4] Shelby Corporation was organized in January 2010 by 10 stockholders to operate an air condi…

1. 12.00 points Exercise 15-3 Using a flexible budget to accommodate market unce

1. 12.00 points Exercise 15-3 Using a flexible budget to accommodate market uncertainty LO 15-2 According to its original plan, Bailey Consulting Services Company plans to charge …

1. 133 points value: Lakeview Company completed the following two transactions.

1. 133 points value: Lakeview Company completed the following two transactions. The annual accounting period ends December 31 a. On December 31, calculated the payroll, which indi…

1. 15.00 points E13-3 Preparing and Interpreting a Schedule for Horizontal and V

1. 15.00 points E13-3 Preparing and Interpreting a Schedule for Horizontal and Vertical Analyses LO 13-2, 13-3, 13-5] According to the producer price index database maintained by …

1. 150 points value: Problem 10-228 [LO 10-S2] On January 1, 2016, a company iss

1. 150 points value: Problem 10-228 [LO 10-S2] On January 1, 2016, a company issues 3-year bonds with a face value of $190,000 and a stated interest rate of 7%. Because the market…

1. 18 pts] Based on a recent market study which detector system in order to elim

1. 18 pts] Based on a recent market study which detector system in order to eliminate cockroaches. The ex three years $50,000, a firm intends to launch a new laser ate cockroaches…

1. 2. (Round all amounts to two decimal places) Sportswear Inc. of Scottsdale pr

1. 2. (Round all amounts to two decimal places) Sportswear Inc. of Scottsdale produces sports and workout apparel for men and women. One of the products produced is "Smart Workout…

1. 2. 3. 4. 5. Hartley Company produces two products, Flower and Planter. Flower

1. 2. 3. 4. 5. Hartley Company produces two products, Flower and Planter. Flower is a high-volume item totaling 20000 units annually. Planter is a low-volume item totaling only 60…

1. 2. 3. 4. Jan. 1 Feb. 15 Mar. 1 30 Paid the cash dividend to stockholders. Nov

1. 2. 3. 4. Jan. 1 Feb. 15 Mar. 1 30 Paid the cash dividend to stockholders. Nov. 1 30 Distributed stock to stockholders. Dec. 1 20 Destiny corporation balance sheet (partial) dec…

1. 2. 3. 4. Please explain. Cane Company manufactures two products called Alpha

1. 2. 3. 4. Please explain. Cane Company manufactures two products called Alpha and Beta that sell for $185 and $150, respectively. Each product uses only one type of raw material…

1. 2. 3. Dick Hunt is saving for a new car that costs $40.000. How many dollars

1. 2. 3. Dick Hunt is saving for a new car that costs $40.000. How many dollars should he set aside now to have $40,000 in 5 years assuming money compounds at 4%? Present Value In…

1. 2. 3. Enviro Company issues 8%, 10-year bonds with a par value of $330,000 an

1. 2. 3. Enviro Company issues 8%, 10-year bonds with a par value of $330,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, w…

1. 2. 3. Gemstone LLC produces kayaks and has recently adopted activity-based co

1. 2. 3. Gemstone LLC produces kayaks and has recently adopted activity-based costing. Information on the following topics was gathered concerning the purchasing department: writi…

1. 2. 3. Gemstone LLC produces kayaks and has recently adopted activity-based co

1. 2. 3. Gemstone LLC produces kayaks and has recently adopted activity-based costing. Information on the following topics was gathered concerning the purchasing department: writi…

1. 2. 3. John Vincent invested $10,000 in a savings account. The account pays 4%

1. 2. 3. John Vincent invested $10,000 in a savings account. The account pays 4% annual interest. John will have how much in the account at the end of 10 years? Round to the neare…

1. 2. 3. Rock stone LLC produces hedge trimmers and has recently adopted activit

1. 2. 3. Rock stone LLC produces hedge trimmers and has recently adopted activity-based costing. Overhead information was recently gathered with respect to the operation of the st…

1. 2. 3. Rock stone LLC produces hedge trimmers and has recently adopted activit

1. 2. 3. Rock stone LLC produces hedge trimmers and has recently adopted activity-based costing. Overhead information was recently gathered with respect to the operation of the st…

1. 2. 4a. Exercise 10-6 Scrap or rework LO A1 A company must decide between scra

1. 2. 4a. Exercise 10-6 Scrap or rework LO A1 A company must decide between scrapping or reworking units that do not pass inspection. The company has 19,000 defective units that c…